Stifel Nicolaus Advisor Kenneth Ramos Lands $389K Investor Complaint

A recent investor complaint against New York City financial advisor Kenneth Ramos (CRD# 2553426) alleges, among other things, that he engaged in unauthorized trading. Financial Industry Regulatory Authority records indicate that he is a broker and an investment advisor with Stifel Nicolaus & Company, having previously been registered with Morgan Stanley.

Mr. Ramos’s BrokerCheck report discloses two investor complaints. The most recent, filed in January 2023, alleges that as a representative of Stifel Nicolaus & Company, he executed unauthorized trades, recommended unsuitable transactions, failed to follow the customer’s instructions to sell, and did not explain the risks associated with unit investment trust and structured note products. The pending complaint alleges damages of $389,000.

An earlier investor complaint, filed in 2002, alleged that as a representative of RBC Dain Rauscher, he engaged in unspecified sales practice violations. In 2005 the complaint reached a settlement of $8,000.

A third disclosure on Mr. Ramos’s BrokerCheck report describes his 2017 departure from Morgan Stanley. According to the disclosure, he voluntarily resigned from the firm in connection with allegations he “executed some transactions for non-discretionary client accounts without speaking to the clients beforehand in all cases.”

According to the Financial Industry Regulatory Authority, Kenneth Ramos holds 25 years of securities industry experience. Based in New York City, he has been a broker and an investment advisor with Stifel Nicolaus & Company since 2017. His past registrations include Morgan Stanley (2009-2017), Morgan Stanley & Company (2008-2009), Bear Stearns & Company (2004-2008), RBC Dain Rauscher (2002), and Tucker Anthony (1997-2002). His credentials include the passage of five securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the National Commodity Futures Examination, or Series 3; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Alabama, Arizona, California, Colorado, Connecticut, the District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Kansas, Massachusetts, Missouri, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Texas, and Utah. (Information current as of January 29, 2023.)

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